UPDATE 1-Bill Gates raises stake in dealership AutoNation
DETROIT, Nov 21 (Reuters) - Microsoft Corp (MSFT.O) co-founder Bill Gates has raised his passive stake in AutoNation Inc (AN.N), the largest U.S. auto dealership group, to 10 percent.
Gates, who previously reported a 5.5 percent stake in AutoNation, said on Friday that his Cascade Investment LLC owned 9.4 million shares in AutoNation and that the Bill & Melinda Gates Foundation Trust holds more than 8.3 million shares.
Also on Friday, investor Edward Lampert disclosed he holds a 45 percent stake in the dealership group that totals 79.6 million shares, according to filings with the U.S. Securities and Exchange Commission.
Lampert has added steadily to his holdings in the Fort Lauderdale, Florida-based company throughout 2008. (Reporting by David Bailey; Editing by Andre Grenon)
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